CBN Concludes Recapitalisation Drive as Banks Raise ₦4.65 Trillion with 33 Banks
Oru Leonard
The Central Bank of Nigeria (CBN), has announced the successful completion of its 24-month banking sector recapitalisation programme, revealing that Nigerian banks raised a total of ₦4.65 trillion to strengthen the country’s financial system.
The recapitalisation exercise, which commenced in March 2024, attracted strong participation from both domestic and international investors. According to the apex bank, 72.55 per cent of the capital was sourced locally, while 27.45 per cent came from foreign markets—an indication of sustained investor confidence in Nigeria’s banking sector.
CBN Governor Olayemi Cardoso said the programme has significantly reinforced the resilience of the financial system.
“The recapitalisation programme has strengthened the capital base of Nigerian banks, reinforcing the resilience of the financial system and ensuring it is well-positioned to support economic growth and withstand domestic and external shocks,” he stated.
The apex bank disclosed that 33 financial institutions have met the revised minimum capital thresholds set under the programme. However, a small number of banks are still undergoing regulatory and judicial processes, which the CBN said are being addressed through established supervisory and legal channels.
Despite ongoing processes affecting a few institutions, the regulator assured that all banks remain fully operational, with no disruption to customer access or banking services.
In addition, the CBN noted that the exercise has boosted capital adequacy ratios (CAR) across the sector, with banks maintaining levels above international Basel benchmarks. Current minimum CAR requirements remain at 10 per cent for regional and national banks, and 15 per cent for banks with international licences.
The recapitalisation, coupled with a phased exit from regulatory forbearance, has also improved asset quality, enhanced balance sheet transparency, and strengthened overall financial system stability.
As part of efforts to sustain the gains, the apex bank said it has enhanced its risk-based supervisory framework. Banks are now required to conduct routine stress testing under defined economic scenarios and maintain adequate capital buffers.
The CBN added that prudential guidelines and supervisory measures will continue to undergo periodic reviews to strengthen governance standards, risk management practices, and sector resilience.
The regulator emphasised that the recapitalisation process was implemented seamlessly, without any disruption to banking operations, ensuring uninterrupted services for individuals and businesses nationwide.
With the conclusion of the programme, the CBN expressed confidence that Nigeria’s banking system is now better positioned to support lending, mobilise savings, and withstand both domestic and global economic shocks.
The apex bank reiterated its commitment to maintaining a stable, transparent, and resilient financial system that inspires confidence among depositors, investors, and the wider public.
